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Company
Contact: Press Contact: Dian
Griesel, Ph.D. CT
Holdings Announces the Closing Of iNetze Transaction CT
acquires and contributes the ESRN Network, the leading decision support
network for K-12, from EBSCO Industries. Combined business to be called
River Logic, Inc. DALLAS,
May 9, 2000 -CT
Holdings, Inc. (NASDAQ: CITN), a business to business (B2B) incubator,
today announced that it has closed an investment in River Logic (formerly
known as iNetze) pursuant to which it acquired approximately 21% of the
shares of River Logic. The company retains an option to acquire additional
shares of River Logic in the future. In connection with the transaction,
CT acquired the EBSCO School Resource Network (ESRN) (www.esrn.com)
from EBSCO Industries and contributed the Network to River Logic. As a
result, River Logic now owns and operates one of the largest educational
networks catering to K-12. The Network provides the most comprehensive set
of proprietary decision support tools and content available for K-12 over
the Internet today. This Network is designed to support school
administrators, teachers, students and parents by providing them with a
comprehensive set of tools and resources targeting their specific needs.
This Network is comprised of learning applications that integrate EBSCO
Industries' exhaustive database of content relating to K-12. The Network
also enables online curriculum management. River
Logic, headquartered in Beverly, Massachusetts, creates and operates
integrated decision support networks for industries such as K-12
Education, Utilities, Forest Products, Healthcare and others. These
networks are designed to leverage the flow and processing of knowledge and
information to provide a decisive competitive advantage. River Logic has
several industry-specific networks in development. Additionally, River
Logic develops and licenses its technologies to key industry partners. "We
are very excited about finalizing our initial investment in River Logic,
Inc. We believe that River Logic's focus on providing companies with the
ability to more fully leverage knowledge, information and expertise for
their competitive advantage through their proprietary technology, is
ideally suited for today's New Economy," said Steven B. Solomon, CEO
of CT Holdings. Solomon added, "This investment expands CT Holdings'
blueprint into one of the fastest growing segments of the market today,
Internet infrastructure." "We
are fortunate to have CT Holdings as a major investor in River Logic. We
believe that by combining our technology and expertise with CT Holdings'
resources, we will be able to exploit our combined strengths and deliver
great value to our customers and partners," said Doug Presley,
President of River Logic, Inc. Presley added, "We believe our
technology is poised to reshape the way decisions are made in businesses
today." About
CT Holdings CT
Holdings is an incubator for early stage B2B companies (www.ct-holdings.com
). CT Holdings' Internet subsidiary How2.com (www.how2.com ) provides
online, outsourced post-purchase customer care solutions. About
River Logic River
Logic (www.riverlogic.com),
headquartered in Beverly, Massachusetts, creates and operates integrated
networks of decision support tools, eLearning solutions, and eCommerce
capabilities that revolutionize the manner in which decision-makers
leverage knowledge and information to gain decisive competitive advantage.
By providing the knowledge databases needed to leverage it's proprietary,
web-enabled, industry standard decision support tools (COR VantageTM),
River Logic, offers one of the world's most comprehensive and
technologically advanced value-added decision support networks. Forward-Looking
Statements: This news release contains forward-looking statements, which
involve risks and uncertainties. Accordingly, no assurance can be given
that the actual events and results will not be materially different than
the anticipated results described in the forward-looking statement. There
are a number of important factors that could cause actual results to
differ materially from those expressed in any forward-looking statements.
These factors include uncertainties related to the closing of the proposed
acquisition and integration of the business and operations of acquired
companies; availability of suitable incubator companies; and the
availability of capital on terms acceptable to the Company. Investors are
also directed to consider other risks and uncertainties discussed in
documents with the Securities and Exchange Commission. CT
Holdings undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements, which may be made to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events. CONTACT:
CT Holdings Steven B. Solomon, 214/521-3443 or River Logic Contact: Doug
Presley, 978/921-4889 ext. 5004 or Press and Investor Contact: Investor
Relations Group Shayne Payne/ Dian Griesel, Ph.D., 212/736-2650
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